Global Installed Base Of Smart Home Devices To Exceed 2bn In 2022

In 2023, the global smart home market is expected to show a number of muted growth rates compared to 2021, according to Omdia.

This downward trend is driven by a combination of factors including wage stagnation, rising unemployment and forecasts for a particularly sharp decline in retail sales in 2022. Demand for energy management solutions and launch of Matter standards in the near future.

Smart speakers will have the largest global shipments in 2021, followed by lighting, sockets/switches and connected medical devices with 195 million units, according to Omdia's latest research on smart home devices. The devices expected to grow the fastest over the next five years are water leakage sensors/valves, plug-in devices, sockets/switches, air quality monitors and smart locks, which are projected to have a compound annual growth rate. . Over 30% from 2021 to 2026.

In terms of penetration of smart home devices into homes, Omdia estimates that roughly 55% of broadband households in the United States will have smart home devices by 2021. In 2017, in the EMEA region, approximately 21% of households with broadband access owned a smart home device. 2021. For comparison, the Americas region has a penetration rate of 44% and Asia and Oceania is around 14% in 2017. 2021

Xiaomi is expected to lead the single-shipping market in 2021, followed by Alibaba, Amazon, Google, and Baidu. All five major brands specialize in smart speakers, while the next four, IKEA, Sengled, Ledvance and Signify, focus mainly on lighting.

Blake Kozak, Senior Principal Analyst, Omdia:

“This is an exciting time for the smart home industry, with brands rapidly implementing advanced features such as facial recognition and video analytics, as well as radar technology in smart speakers and thermostats.

“Brands are involved in partnerships and acquisitions such as ADT Sunpro Solar and IOTAS. Advances in connectivity standards such as ultra-broadband, wireless, and NB-IoT are also bringing new use cases to the smart home market, improving accuracy and distance.

However, the next few years will be challenging for many brands as costs continue to rise. As a result, maintenance costs could rise as brands struggle with ongoing costs (Wise and Ring), while brands with low-cost one-time equipment sales face significant cost pressure.

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